Ascensus buys Wychem
Ascensus Specialties, a provider of speciality materials for life sciences and advanced technology, has followed up on previous acquisitions by buying fine chemicals manufacturer Wychem from private equity firm Aurelius, which had acquired it in 2016. The company employs 25 people at its site in the UK.
Terms were not disclosed, but Aurelius said that the transaction “resulted in a money-over-money multiple of 10.6x”. It added: "Backed by a comprehensive repositioning including investments in site expansion and capacity improvements carried out by Aurelius, Wychem is now in excellent shape generating a high margin and strong cash flow.”
Wychem is based in the UK and makes starting materials and multi-step intermediates for the synthesis of APIs and other advanced technology applications using its own process technology. It specialises in aromatic compounds, making over 1,000, and halogenation, including including direct bromination, direct iodination, and diazonium and Sandmeyer reactions.
Ascensus CEO Mike Huff decribed Wychem as “a nimble, highly customer-centric organisation, with deep relationships across its global customer base of CDMO, pharmaceutical and other specialty customers”. It will, he added, “enhance our growing European manufacturing footprint and commercial presence”.
Ascensus claims to be a global leader in borohydride, borane and speciality alcoholate reagents, CVD/ALD precursors, and high-purity APIs and cGMP materials. In recent years, it has acquired both Strem Chemicals and Callery Chemicals, bringing it facilities Pennsylvania, and Massachusetts to add to its original one in Washington State.